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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation | 16. Stock-Based Compensation Equity compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2020 is included in the Company’s 2019 Annual Report on Form 10-K. The total number of shares of the Company’s common stock available for awards under the Company’s 2013 Omnibus Incentive Plan (“2013 Plan”) is 7,477,395 shares. The total number of shares of the Company’s common stock still available for issuance as of September 30, 2020 is 4,726,107 shares. During the three months ended September 30, 2020, the Company recorded stock-based compensation (income) expense of $(0.5) million of which $2.0 million of expense was recorded in engineering, selling and administrative expense and $2.5 million of income was recorded in restructuring expense in the Condensed Consolidated Statement of Operations. During the nine months ended September 30, 2020, the Company recorded stock-based compensation of $5.4 million, of which $7.9 million of expense was recorded in engineering, selling and administrative expense and $2.5 million of income was recorded in restructuring expense in the Condensed Consolidated Statement of Operations. Income recorded in restructuring expense was primarily related to the forfeiture of grants associated with employee separation agreements. Stock-based compensation for the three and nine months ended September 30, 2019 was $2.2 million and $8.3 million, respectively, which was recorded in engineering, selling and administrative expense in the Condensed Consolidated Statement of Operations. The Company recognizes stock-based compensation expense over the award’s vesting period, subject to retirement, death or disability provisions of the 2013 Plan. No options to acquire shares of common stock were granted to employees during the three months ended September 30, 2020 and 2019. Options to acquire 250,432 and 210,243 shares of common stock were granted to employees during the nine months ended September 30, 2020 and 2019, respectively. The options granted become exercisable in three annual increments over a three-year period beginning on the grant date and expire 10 years subsequent to the grant date. During the three months ended September 30, 2020 and 2019, no restricted stock units were granted to employees. A total of 305,519 and 178,371 restricted stock units, respectively, were granted to employees during the nine months ended September 30, 2020 and 2019, respectively. The restricted stock units granted to employees vest in three annual increments over a three-year period beginning on the grant date. No performance shares were granted to employees during the three months ended September 30, 2020 and 2019. A total of 328,310 and 228,037 performance shares were granted during the nine months ended September 30, 2020 and 2019, respectively. Performance shares vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. The performance goals and the applicable performance period vary for each grant year. The performance goals for the performance shares granted in 2020 are based on the 3-year average of the Company’s adjusted EBITDA percentage from continuing operations from 2020 to 2022 with a +/-20% modifier based on total shareholder return relative to a defined peer group of companies during the three-year performance period, not to exceed 200% of target shares granted. The performance goals for the performance shares granted in 2019 are based 50% on total shareholder return relative to a defined peer group of companies during the three-year performance period and 50% on the Company’s adjusted EBITDA percentage from continuing operations in 2021. Depending on the foregoing factors, the number of shares earned could range from zero to two times the amount of performance shares outstanding on the vesting date. No equity compensation awards were granted to directors during the three months ended September 30, 2020 and 2019. A total of 77,608 and 50,673 equity compensation awards were granted to directors during the nine months ended September 30, 2020 and 2019, respectively. The 2020 and 2019 equity compensation awards vested immediately upon the grant date.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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